Why the latest SSB is better than saving in a Bank

The July round of Singapore Savings Bonds (SSB) is out, and the yields are impressive. At an average of 2.63% not only is it one of the highest yielding issuance yet, it has also one of the highest short-term yield rates. Much higher than what the banks that are offering at 1.5%-1.75% for a 24months issuance.

July edition of the SSB, higher than CPF OA!

As soon as I saw the issuance out on the newspaper, I quickly pointed it to my Dad, whom I know puts his money in fixed bank deposits. With the low minimum deposit amount and the AAA backing of the government, this is a no brainer if you already keep money in FDs.

Without any minimum sum required, I’d reckon that it’ll even beat the DBS multiplier account for most account holders, without a minimum spending amount.

DBS Multiplier Account Interest Rates
Most savers would only receive about 2% – 2.2% p.a 

Knowledge is power and financial literacy and keeping current in the investment world yields long term results.

3 thoughts on “Why the latest SSB is better than saving in a Bank

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